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People & Business :: M&A
Azelis divests composites business, appoints former Clariant executive CEO
7:06 AM MDT | October 2, 2012 | Ian Young
Specialty chemicals distributor Azelis (Antwerp) says it has sold its composites business to specialties distributor Velox (Hamburg), effective 1 October 2012. The sale follows a strategic review by the Azelis board, which determined that the composites market was "subcritical" for the company, Azelis says. Azelis has identified industrial chemicals, coatings, rubber and plastic, and life sciences as the primary growth areas, among the markets it serves. Divesting the composites business follows Azelis's sale of its thermoplastic polymers business to...
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